The debate on the demonetisation success is not as expected by the citizens and the press, but certainly, it has demoralised and demolished 75% of BLACK MONEY in the real estate market of Bangalore.
75% of the end users(sites or apartments) are loaners!!!! ( borrowers) and the RERA bombed all irregular, illegal and violators (builders) and their criminal designs.
The first buyers ( from the original landlords ) are now making payments through cheques/dd and neft to the agriculturists and all the Misc expenses are accounted for by paying income tax and GST.
There is a drastic change in the behaviour, attitude and transaction in REAL ESTATE. Many builders and agents are unable to register themselves with RERA.
Hope, market will stabilise with decent, dignified and honest builders, but it comes with a PRICE. Honesty and Trust come with a PRICE.
Buy or pay for RERA approved projects and transact only with GENUINE Agents ( check their background for criminal cases in the police station and in the courts ) for the purchase or sale of any property, anywhere.
Never trust sweet talk in real estate business. Posh Offices, Sweet looking attenders and their projects just by photos, More important by internet reviews (most of them are manipulated) and references. Check thoroughly before you pay the token advance.